PubMatic (NASDAQ:PUBM) Stock Moved Down to Hold by Wall Street Zen

Wall Street Zen lowered shares of PubMatic (NASDAQ:PUBM) from a buy rating to a hold rating in a research report report published on Saturday morning,Wall Street Zen reports.

Other equities research analysts have also issued reports about the company. Citigroup reissued an “outperform” rating on shares of PubMatic in a research note on Friday, August 7th. Craig Hallum started coverage on PubMatic in a report on Thursday, September 24th. They set a “buy” rating and a $24.00 price objective for the company. B. Riley Financial upped their price objective on PubMatic from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, September 18th. Citizens Jmp increased their target price on PubMatic from $12.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday, August 7th. Finally, Rosenblatt Securities increased their target price on PubMatic from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Eleven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.73.

PubMatic Stock Up 0.4%

PUBM stock opened at $17.24 on Friday. PubMatic has a twelve month low of $6.15 and a twelve month high of $19.48. The stock has a market capitalization of $785.28 million, a price-to-earnings ratio of -57.46 and a beta of 1.56. The firm’s fifty day simple moving average is $17.39 and its two-hundred day simple moving average is $13.71.

PubMatic (NASDAQ:PUBM) last announced its earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.15. PubMatic had a negative net margin of 4.66% and a negative return on equity of 5.41%. The business had revenue of $78.59 million for the quarter, compared to the consensus estimate of $68.95 million. As a group, equities research analysts expect that PubMatic will post -0.09 EPS for the current year.

Insider Buying and Selling

In related news, CEO Rajeev Goel sold 211,302 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $17.74, for a total value of $3,748,497.48. Following the transaction, the chief executive officer owned 31,692 shares of the company’s stock, valued at $562,216.08. This represents a 86.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Steven Pantelick sold 23,491 shares of the firm’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $18.97, for a total value of $445,624.27. Following the transaction, the chief financial officer owned 32,526 shares in the company, valued at $617,018.22. The trade was a 41.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 610,951 shares of company stock valued at $10,910,572 over the last quarter. 27.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PubMatic

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd grew its holdings in PubMatic by 75.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company’s stock worth $39,000 after acquiring an additional 1,915 shares in the last quarter. State of Wyoming bought a new stake in shares of PubMatic in the 1st quarter valued at about $61,000. Versant Capital Management Inc lifted its position in shares of PubMatic by 30.4% in the 2nd quarter. Versant Capital Management Inc now owns 10,657 shares of the company’s stock worth $140,000 after purchasing an additional 2,482 shares during the period. Sei Investments Co. purchased a new stake in shares of PubMatic in the 1st quarter worth approximately $129,000. Finally, WINTON GROUP Ltd lifted its position in shares of PubMatic by 28.0% in the 2nd quarter. WINTON GROUP Ltd now owns 16,900 shares of the company’s stock worth $222,000 after purchasing an additional 3,700 shares during the period. Institutional investors own 64.26% of the company’s stock.

PubMatic Company Profile

PubMatic, Inc is a cloud infrastructure and digital advertising technology company that provides solutions for the programmatic advertising industry. Its platform helps publishers, app developers and content creators manage and monetize advertising inventory across websites, mobile applications, connected television and other digital channels.

The company operates primarily as a sell-side platform, connecting publishers with advertisers, agencies and demand-side platforms. Its offerings include tools for real-time bidding, yield management, audience targeting, identity solutions, supply-path optimization and header bidding.